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Tata Motors Group - Consolidated Financial Results for the Quarter ended June 30, 2010

The Tata Motors Group today reported consolidated revenues (net of excise) of Rs. 27,055.57 crores, posting a growth of 64.2% over Rs. 16,472.97 crores in the corresponding quarter of the previous year, with strong volume growth globally in all major markets. The Consolidated Profit before Tax (PBT) (post minority interest and profit in respect of Associate companies) for the quarter was Rs. 2,275.44 crores, compared to a Loss before Tax of Rs. 269.86 crores for the corresponding quarter last year. The Consolidated Profit after Tax (PAT) for the quarter was Rs. 1,988.73 crores, a significant turnaround from a loss of Rs. 328.78 crores in the corresponding quarter last year.

Tata Motors has reported a Basic Earnings Per Share (EPS) of Rs. 34.80 in Q1 FY2010-11 for its consolidated operations as against a Loss Per Share of Rs. 6.40 in Q1 FY2009-10.

Tata Motors Stand-Alone Financial Results for the Quarter ended June 30, 2010

Tata Motors gross revenue for the quarter ended June 30, 2010, was Rs. 11,296.80 crores (quarter ended June 30, 2009: Rs. 6,930.43).

Revenues (net of excise) of Rs. 10,416.26 crores, represented a growth of 62.7% over Rs. 6,404.02 crores in the corresponding quarter last year. Volume growth, cost efficiencies and better realisations have led to a double digit operating margin of 11.28%, resulting in an Operating Profit (EBITDA) of Rs. 1,174.67 crores in the quarter (quarter ended June 30, 2009: Rs. 728.00 crores). The PBT for the quarter is Rs. 537.65 crores (quarter ended June 30, 2009: Rs. 548.04 crores, which included profit of Rs. 318.94 crores on sale of investments, which were not liable to tax) The PAT for the quarter is Rs. 395.72 crores (quarter ended June 30, 2009: Rs. 513.76 crores).

Overall economic growth, robust IIP and availability of liquidity led to robust domestic demand during the quarter, resulting in volume growth comprising both new products and the existing portfolio. In the domestic market, the company's commercial vehicles sales increased by 38.7% to 100,186 units. The growth was mainly supported by medium and heavy commercial vehicles which grew by 62.4% year-on-year. The company's market share in commercial vehicles was 61%.

Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 56.0% in the domestic market to 77,858 units driven by continued overwhelming response to the Tata Indigo Manza, the Tata Indica Vista and the Tata Nano. The market share for Tata passenger vehicles for the period stood at 13.3% as compared to 11.2% in Q1 FY2009-10. Driven by the Manza, the company's market share in the entry-midsize segment has increased substantially to 39.5% compared to 25.2% in Q1 FY2009-10.

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